Homeowners in CFD 93-1 Area 17c Come on Down, You are Winners!
If you live in Beaumont CFD 93-1 Area 17c, you are the next lucky ones to have your Mello-Roos bonds refunded. Yes that's right, you get to have your Mello-Roos annual property tax obligation extended by the Beaumont Financing Authority (BFA). Congratulations! Your Mello-Roos portion of your property taxes may be extended up to another 10 years in order to send $50,000 to the City of Beaumont; $35,000 to the Urban Logic consultants; and thousands more to Mr. Kapanicas and his firm, General Government Management Services; Rod Gunn Associates Inc (Financial Advisor); Oconnor & Company Securities Inc (Underwriter); McFarlin & Anderson (Bond Counsel); and Union Back (Trustee) who will be structuring this deal for which they will all share a "modest fee."
During a public hearing on Tuesday November 19, the BFA, aka your City Council, will consider authorizing this refinancing in order to save a percent or two in interest payments of which they will pass none on to you.
How do you know if you are a winner? Check your property tax bill and look for the winning lottery number, CFD 93-1 17c. If you didn't win this time, don't worry, if you live in a housing development built in the last 10 years, they will get around to you eventually. Many of you may already have been winners and not even know it. Bring your tax bill to the public hearing and ask the BFA board, someone should be able to tell you when your Mello-Roos were last extended or when you too will be able to claim to be winner of millions in debt in the Beaumont CFD Sweepstakes. Whoo hoo!
